So, for years, I focused on doing what my heart led me to do. Which luckily did make me enough money to support my immediate needs (though not so much I had oodles left over to invest and do all that smart stuff).

It took many more years before I learned to see money for what it is, a fair exchange for the valuable service one provides, and as something worthy of respect and daily attention.

And because NOTHING takes the fun out of entrepreneurship more than struggling to make your bills each month, it’s become my mission to help creatives become more intentional about how they regard money, and how that translates into the kind of clients they target in their mission, message, and services.

Many things, including where you live, your lifestyle, your values, your goals, and how many hours you want to work will influence how much money is enough for you.

2) Work on your financial intelligence

Thanks to some great lessons from my friend and bookkeeper Marsha Stone, I’ve always been totally on top of the money in my business, including diligently tracking income and expenses in QuickBooks.

Yet my money story was out of whack with my perception of my own financial intelligence. Because it wasn’t something I loved doing, I told myself I hated dealing with this stuff, that I wasn’t good at it, and, if I could goof off on spending a day surrounded by bank statements and receipts, I would.

And do you know what I learned? During the periods in my business when I was really on top of it, I made MUCH more money. During the periods when I let my whacky money story prevail and didn’t pay as much attention, income dropped.

At the beginning of this year, I decided to change that money story once and for all, and I became a business and personal finance junkie.

I learned that this stuff becomes enjoyable when it’s delivered in my learning style (story-based, no judgement, supportive) rather than the usual shame, blame, and regret that comes baked into a lot of financial advice.

Reach out to people and entrepreneurs who seem to have their financial act together and ask if they have any resources to share.

3) Know (and most likely, increase) your rate

I would estimate that 90% of my new clients are seriously under-charging for what they do. Remember, there’s no shame or blame here. Only empowerment. So, I’d like to invite you to review your own rates and assess if they’re aligned with what you want, need, and what the market will bear.

This is a whole blog post in and of itself, but I have a nifty little rate calculator in my free guide to help you get a clear picture of what YOUR number needs to be.

If you do this and learn that you’d have to consistently work 70 hours a week and on-board 10 new clients a month, to make your target number, something needs to give.

You either need to at least double your rate, or figure out new revenue streams. Either way, knowledge is power.

4) Figure out what clients can, and will, pay your rate

If you’re not making the money you want, chances are you’re targeting the wrong (for you) clients. I’ve noticed that creative entrepreneurs often target other small business owners who have big dreams they’re bootstrapping all way.

If that’s your jam, that’s fine, but think about how you might balance those clients with clients who have budgets that don’t come out of their own pocket. For example, when I represented the fashion illustrator Megan Hess, our target clients were fashion and beauty brands who had advertising and promotional budgets.

Megan was then able to do pro-bono work, take on small-budget projects with entrepreneurs who were beside themselves to work with her, and do book projects, knowing her livelihood didn’t depend upon that income.

Granted, getting big clients might not happen overnight, but if your work is top-notch, you know how to position yourself to their needs, and you’re consistent in your marketing and follow up, there’s absolutely no reason you can’t have those clients too (really!).

What is your biggest takeaway from what I shared in this post? I’d love to hear from you! Leave a comment below.

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About Justine Clay

Justine Clay is a speaker and business coach for creative entrepreneurs and freelancers. Through a series of clear, actionable steps, Justine will teach you how to identify what makes you stand out from the crowd, create a marketing message that resonates with your ideal clients, and build a successful and fulfilling creative business or career. Sign up for Justine’s free guide: How to Find High-Quality Clients and Get Paid What You’re Worth and start making monumental changes in your creative business or career today.

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